Tocvan Restarts Drilling at Pilar, Targeting Priority Areas for Expansion. Outlines Path Forward for Sonora Projects
Calgary, Alberta – TheNewswire - June 22, 2022 Tocvan Ventures Corp. (the “Company”) (CSE:TOC); (OTC:TCVNF); (FSE:TV3), is pleased to announce drilling has recommenced at its Pilar Au-Ag Project in Sonora, Mexico. As a continuation of Phase III, drilling will focus on priority exploration targets across the property. Targeting parallel trends and trend extensions will remain a focus as the Company looks to rapidly define the extent of mineralization at Pilar.
Recent reconnaissance drilling in a 200-meter gap between the Main Zone and 4-T Trend was successful in defining a new parallel trend (JES-22-63 returned 54.9-meters at 0.3 g/t Au and 5 g/t Ag from 6.1-meters depth). Another 200-meters to the east, surface exploration returned chip samples of 6.6 g/t Au and 433 g/t Ag defining an untested extension of the 4-T Trend, both of these targets will be tested during this stage of drilling.
“We are excited for this next stage of drilling at Pilar, as we feel the potential to expand the known areas of mineralization is very significant,” commented Brodie Sutherland, CEO. “All of these targets have compelling surface geochemistry that warrant further evaluation. Information collected here will be instrumental to the next steps of development as we look to utilize substantial funding to fully unlock the potential of Pilar.”
Figure 1. Map of Phase III Drill Holes with Next Stage of Drilling (Red).
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Next Stage Drill Targets
1)Follow-Up on NEW Discovery Trend
54.9m at 0.3 g/t Au and 5 g/t Ag, from 6.1m
Including 13.7m at 0.6 g/t Au and 13 g/t Ag, from 6.1m
Including 4.6m at 1.6 g/t Au and 29 g/t Ag, from 6.1m
And 9.2m at 0.6 g/t Au and 3 g/t Ag, from 42.7m
Soil Sample 170-meter southeast on trend returned 340 ppb Au and 19 ppm Ag
Surface Chip sampling up to 6.6 g/t Au and 433 g/t Ag in silicified fault (See Plate 1.)
Soil Sample 100-meter southeast on trend returned 1,090 ppb Au and 127 ppm Ag
Untested, elevated surface sampling over 300-meter trend
Plate 1. Photo of rock chip sample 7591, which returned 6.6 g/t Au and 433 g/t Ag as part of the 4-T Extension target.
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Near-Term Catalysts at Pilar
Ongoing Exploration and Expansion Drilling
Ongoing Metallurgical Studies
Maiden Resource Estimate
Bulk Test Mine Determination
Update on Metallurgical Studies
Metallurgical analysis of select trench samples are still underway, the Company expects reports to be available soon. The Company’s expectation is to have Pilar match other regional analogs that show a range of gold recovery between 67.6% (La Colorada, Argonaut Gold. 2022 Technical Report) and 75% (Santana, Minera Alamos. April 7, 2022 News Release). Continuous metallurgical work will be required to understand best methods to recover gold and silver across different domains on the project.
Exploration Update on El Picacho
Over the past two months field crews have been evaluating priority target areas at the El Picacho Au-Ag project. A total of 180 samples have been collected to date and are pending results. A preliminary trench program assessing the San Ramon and Jabali target areas is being planned for this summer.
Near-Term Catalysts at El Picacho
Ongoing Surface Exploration and Mapping
Trench Program (San Ramon, Jabali, Cornea targets)
Maiden Drill Program (San Ramon target)
Plate 2. Photos from recent surface sampling at El Picacho, results are pending.
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About the Pilar Property
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 20,700 m of drilling have been completed to date. Significant results are highlighted below:
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au
47.7m @ 0.70 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.71g/t Au
35.1m @ 0.66 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
Historic Core RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
16.5m @ 53.5g/t Au and 53 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
About Tocvan Ventures Corp.
Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 33 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
Quality Assurance / Quality Control
RC chips and core samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s robust quality assurance / quality control protocol.
Brodie A. Sutherland, P.Geo., CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 888 772 2452